JPMorgan Chase & Co. Boosts StepStone Group (NASDAQ:STEP) Price Target to $61.00

StepStone Group (NASDAQ:STEP) had its price target boosted by JPMorgan Chase & Co. from $56.00 to $61.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 5.65% from the company’s current price.

Other analysts have also recently issued reports about the company. Evercore ISI lifted their price objective on StepStone Group from $41.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. The Goldman Sachs Group upped their price target on StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group increased their price objective on StepStone Group from $44.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley increased their price objective on StepStone Group from $43.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Barclays increased their price objective on StepStone Group from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.19.

StepStone Group Stock Up 1.6 %

Shares of StepStone Group stock traded up $0.91 during trading on Tuesday, reaching $57.74. 525,140 shares of the stock were exchanged, compared to its average volume of 577,552. The stock’s fifty day moving average is $52.27 and its 200 day moving average is $44.39. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 64.23 and a beta of 1.28. StepStone Group has a 1 year low of $25.06 and a 1 year high of $58.17.

StepStone Group (NASDAQ:STEP) last posted its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.13. The firm had revenue of $186.40 million for the quarter, compared to analysts’ expectations of $181.15 million. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities analysts forecast that StepStone Group will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On StepStone Group

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of StepStone Group by 22.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 634,815 shares of the company’s stock valued at $20,207,000 after buying an additional 116,439 shares during the last quarter. Capital Research Global Investors boosted its position in StepStone Group by 27.8% in the fourth quarter. Capital Research Global Investors now owns 628,532 shares of the company’s stock worth $20,006,000 after purchasing an additional 136,542 shares during the last quarter. Wellington Management Group LLP boosted its position in StepStone Group by 9.8% in the fourth quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock worth $222,635,000 after purchasing an additional 627,059 shares during the last quarter. Vanguard Group Inc. boosted its position in StepStone Group by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,270,144 shares of the company’s stock worth $167,749,000 after purchasing an additional 90,974 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of StepStone Group by 74.3% in the first quarter. Los Angeles Capital Management LLC now owns 50,099 shares of the company’s stock worth $1,791,000 after buying an additional 21,354 shares during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.

About StepStone Group

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.